$AMZN definitely some buyers down at these levels that aren't leaving this for dead. A nice $15 pop in the past two days off the lows. In my last update I said I needed to see more time to base before I was interested in the long side and we're getting just that. One more pullback perhaps to the low 250s would get me interested to the long side for some sort of...
AMZN has had a fantastic rally the last few days; however, this raises the question: Will it last? Assuming we get above average volume tomorrow I believe it will. When looks at the DMI cross overs for the last 9 months one can see that 7/8 times they have properly signaled the trend, and given that we had a crossover yesterday I think the upswing should last at...
Early March we called a bearish trade though we closed early the spread it would have paid a full 15 point gain while we only booked 50% profit early. As noted if price violates the rising support line, probably it will head to $245 next few months or weeks. Today, it broke second support on strong volume. Any pop up opportunity to add more. Join us www.woowtrading.net
For the last 1.5 years 100% of the time RSI has exceeded 69.79 and the Stoch has exceeded 80 amazon's stock price has fallen. With the discover of this information I have become significantly more confident in amazons ability to continue its upward trend, as neither the Stoch or the RSI are close to their required thresholds. I will be watching amazon closely...
Last week, the price for the Amazon shares has fallen pretty good. We can see formed a Bearish Engulfing, right at the superior line of the channel, that might signal a correction which could retest the 242.28 support level. Another thing that is sustaining this theory is the down path of the volume on the uprising impulse of the trend, but also a spike on the...
That's one long HAMMER. A classic example of a reversal candle stick pattern at support with an oversold stochastic.
Normally I would like to see what the next candle looks like because this hammer is considered a NAKED HAMMER(not confirmed), but due to the size of the hammer's shadow, it is likely that Amazon will move higher.Near term price target $247
